AN ACT relating to insurance licensing.
Amend KRS 304.3-180 to reduce the number of consecutive years an insurer may use an accountant or firm for preparing the audited financial statement from seven (7) to (5); amend KRS 304.9-020 to define "rental vehicle agent" an "rental vehicle agent managing employee"; amend KRS 304.9-133 to remove the requirement that business entities file an annual report of all designated individuals who were not terminated on or prior to December 31; amend 304.9-150 to remove the requirement that a business entity applicant file with its application a certificate issued by the Kentucky Secretary of State demonstrating that it can do business in Kentucky and a copy of its assumed name certificate; provide that a business entity applicant or licensee shall not use a name which is the same or deceptively similar to another business entity licensee; amend KRS 304.9-230 to add rental vehicle as a limited line of authority; amend KRS 304.9-505 to conform; amend KRS 304.9-507 to conform; and, repeal KRS 304.9-485, 304.9-501. 304.9-503 and 304.9-513.